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Binary options were once popular as traders know the potential profit even before opening trading positions . Many platforms and brokers claim that through binary options, they promised a huge return and a high ROI . This false advertising has caused significant losses among investors while the big bosses behind the scams remain unpunished Pocket Option Bonus Withdrawal . Why binary options turn out to be a scam?
Is binary trading profitable? Although binary trading has proven profitable for many, it requires a lot of practice. A trader may make a large profit in their first week of trading, only to lose ten times that amount the following week.
How long does it take to get paid from Pocket Option? If you have decided to use an electronic wallet, then you should receive the money within five to ten hours. If, on the other hand, you have decided to make your payment through a bank transfer, the processing of your request might take up to five business days.
According to CFTC, a binary option is a type of options contract in which the payout depends entirely on the outcome of a yes/no proposition and typically relates to whether the price of a particular asset will rise above or fall below a specified amount. Once the option is acquired, there is no further decision for the holder to make regarding the exercise of the binary option because binary options exercise automatically.
Unlike other types of options, a binary option does not give the holder the right to buy or sell the specified asset Pocket Option Free Money . When the binary option expires, the option holder receives either a pre-determined amount of cash or nothing at all . Unlike traditional instruments like forex, stocks, or futures, it does not require a trader to consider the range of a rise or fall.For example, if a trader bets EUR/USD will rise in an hour with an investment of USD 100, then he or she will get 70% return (USD 70) if the price goes as expected or lose USD 85 if the price goes the opposite way.
With a simple trading logic similar to gambling, binary options are often taken advantage by scammers. Read More Here